Multibit bitcoin address space
To request bitcoin from someone else you need to provide them with a "Bitcoin address". Anyone that you give this address to will be able to send you bitcoin from that moment on. Remember that they may keep this address for a long time so you should never abandon a wallet by throwing away the wallet words. It's very unlikely you'll ever have to type a Bitcoin address by hand so don't worry about having to memorise them.
Bitcoin addresses are intended multibit bitcoin address space be used just once since for technical reasons see later they become a little less secure after you have spent the bitcoin received by them. For this reason MultiBit always gives you a new address each time you click the "Request" button.
QR codes are a convenient way to transfer information from one machine to another. MultiBit will generate one for you by clicking the QR code icon near the Recipient box. This makes it easy for you to request payment from smartphones with Bitcoin wallets installed. Once you have requested a payment it appears in the Payments screen with the status 'You requested'. At this point you are waiting to get paid, the general process is as follows:.
The other person sends you bitcoin and the status moves to "Unconfirmed" to indicate that the Bitcoin network is processing it. You will also get a green alert bar with a message indicating that bitcoin is incoming. Multibit bitcoin address space cannot spend unconfirmed multibit bitcoin address space in MultiBit since they could fail to confirm for many reasons. When your request has been paid and before it is confirmed the status of the transaction moves to "Receiving".
If the other person only sends you part of the bitcoin you requested, the status is "Part paid" until they send you all that you requested. Bitcoin miners process all the unconfirmed transactions and put them into blocks. Once this happens your transaction is confirmed and you can spend it. This normally takes between 10 minutes and an hour. Once your transaction is confirmed in a block its status changes to "Received".
Use the Multibit bitcoin address space screen. You can undo this if you select the multibit bitcoin address space one. This requires a technical explanation of how Bitcoin addresses are created.
This process makes the address short so it doesn't take up much space in multibit bitcoin address space block chain, and also makes it very hard to work back from the address multibit bitcoin address space two different hashing algorithms to arrive at the original public key.
During the Bitcoin spending process the public key is exposed in the block chain for all to see. This is necessary to allow everyone to verify that the address matches the public key and that the private key was used to sign the transaction, but removes the hash of a hash protection. This weakens the security from that of an multibit bitcoin address space to simply the mathematical relationship between a public and private key within elliptic curve cryptography. While this is immensely strong, it is still weaker than the additional hash of a hash which is why addresses should not be re-used.
Back to Table of Contents Request payment To request bitcoin from someone else you need to provide them with a "Bitcoin address". Enter an amount denominated in whatever bitcoin unit you have chosen in the left entry field or the amount in your chosen national currency in the right entry field. MultiBit will perform a currency conversion using your choice of multibit bitcoin address space.
Click the "Copy" icon next to the Recipient box to copy the address to your clipboard for easy pasting into an email, instant message etc You may want to add some private notes to the this payment request. These are held encrypted within your wallet and are not revealed to anyone else including the payer. Tracking multibit bitcoin address space payment request's progress Once you have requested a payment it appears in the Payments screen with the status 'You requested'.
At this point you are waiting to get paid, the general process is as follows: How can I find out more about a transaction? You can view many details of a particular transaction as follows: Select a transaction in the Payments screen and click the "Details" button or double click the transaction to open the "Transaction wizard".
In the transaction wizard, navigate to the screen titled "Transaction details". Click the "View in blockchain. MultiBit supports several block explorers. You can change which block explorer is used to view a transaction as described in Payment settings How can I remove a payment request I made multibit bitcoin address space mistake?
Why should Bitcoin addresses only be used once?
MultiBit is a popular Bitcoin wallet program that aims to combine fast startup times, a simplified feature set, and support for multiple languages.
MultiBit is no longer supported. This post was written in and only slightly modified since then. It remains for those who may need to use MultiBit Classic, but should not be used by beginners. This guide documents MultiBit through step-by-step examples written from the perspective of a reader new to both MultiBit and Bitcoin.
Having access to a small amount of bitcoin will make the examples presented here easier to understand. Many purchase options are available; U. The information presented here applies to this version multibit bitcoin address space MultiBit 0. Download the installer for your operating system from the downloads page. If multibit bitcoin address space software is not present on your computer, the installer will ask if you want to add it. After Java has been installed, re-run the MultiBit download.
If downloading MultiBit from a browser, be sure to save the installer rather than trying to open it with a package manager. The installer will guide you from there. To send multibit bitcoin address space funds, a payer requires your Bitcoin address.
Multibit bitcoin address space your receiving address QR code can be scanned by a handheld device. Next, make a payment from the software or service currently hosting your funded wallet into your unfunded MultiBit wallet. Fill in an amount. For this example, transfer 0. Localbitcoins, like other exchanges, does multibit bitcoin address space always send funds immediately.
Delays of a few minutes are to be expected because transfers are often batched to minimize fees. In my tests, Localbitcoins took on average ten minutes to process a withdrawal. As the Bitcoin network processes this new transaction, its status will be updated in the transactions listing. The network sends a confirmation once every ten minutes or so. MultiBit considers transactions fully processed after receiving six confirmations.
Processed transactions are designated with a green checkmark. Only two fields are required to make a payment: Amounts can be denominated in bitcoin BTCor local currency. Fees must be accounted for in every transaction.
The network expects a transaction fee of 0. Paper wallets are sometimes received as gifts from another Bitcoin user. Unfortunately, the procedure described here for securely importing paper wallets into MultiBit is complicated. If you received a paper wallet and simply want to spend it, consider using another Bitcoin wallet program - for example, Electrum.
Create a text file called import. The timestamp should represent a time safely before the first payment into the wallet was made. An multibit bitcoin address space file might look like this:. Unfortunately, mis-assigning the timestamp in an import file is both easy to do and can cause confusing MultiBit behavior.
Should MultiBit not display balances as expected after importing a private key, see the Stuck Transactions section. When prompted for a filename, enter paper-wallet. The newly-created wallet should be empty.
Next, import the paper wallet. After synchronization, you should see two wallets, one of which contains the balance of the newly-imported paper wallet. Enter an amount that will fully transfer funds from Paper Wallet when transaction fees are taken into account.
Why not directly import the private key into the default wallet? The answer has to do with change addresses. Leaving an imported private key in a MultiBit wallet makes it possible for bitcoin to be stolen in the future. As of version 0.
However, this concern may not apply if you only import private keys securely created by you. Select a convenient filename for the backup in this case, petty-cash.
Many instances of theft have been caused by MultBit users storing unencrypted backups to cloud storage. Anyone finding such a backup file can take the funds in your wallet - with or without access to your your computer.
Add a secure password to any backup of a wallet holding non-trival amounts of bitcoin. Unfortunately, multibit bitcoin address space backup recovery is not easy in MultiBit.
The next two paragraphs describe a procedure to simulate a clean MultiBit installation. Use it only on multibit bitcoin address space backed-up wallet containing a trivial amount of bitcoin, and only if you feel comfortable modifying system files. The MultiBit data directory resides at multibit bitcoin address space operating system-specific path that is also displayed at the top of the MultiBit main window.
Having found this data directory, close MultiBit. Next, delete the data directory. Multibit bitcoin address space restarting MultiBit, your previous wallet will have been replaced by a new, unfunded wallet. This ends the procedure for simulating a clean MultiBit installation. Starting with a clean installation of MultiBit, the procedure for multibit bitcoin address space a backup is multibit bitcoin address space to the one outlined under Sweep a Paper Wallet.
The backup file plays the role of the manually-created import. If you enter the wrong password, MultiBit will respond with a message to that effect. MultiBit will synchronize with the network, which could take a minute or two. When synchronization is complete, your wallet should be restored to its previous condition. The MultiBit wallets used so far have not multibit bitcoin address space protected by a password.
Without a password, anyone who can access your computer or read from your had drive can, in principle, steal bitcoin from the wallet. Adding a password makes such theft more difficult. Wallets protected by password behave differently than unprotected wallets. They must be unlocked before spending or backing up. They also display a lock icon in the wallet view.
Although this fix often solves the problem, there are cases in which it does not. For example, this condition can result from the use of an incorrectly-formatted paper wallet import file. As described in Sweep a Paper Walletcare must be taken when assigning the timestamp for a private key. If the chosen timestamp occurs after the first transaction, MultiBit may persistently display an incorrect balance.
Should this problem arise, the solution is straightforward. Open the exported file with a text editor, then sweep the private key into another wallet program. Imagine that a dispute arises between a buyer and a seller. The seller claims they were not paid. The buyer points to the block chain transaction, which shows a payment. The buyer and seller take the case before an arbiter. The arbiter asks the buyer to produce a message signed with the private key of the sending address in the multibit bitcoin address space chain transaction.
The buyer does so, the arbiter verifies the message, and the case is decided in favor of the buyer. Enter the address to sign from and a message. Enter the address, message, and signature to verify. MultiBit multibit bitcoin address space converts multibit bitcoin address space to local currency.
The default exchange rate is Bitstampbut other exchange rates can also be used. Click on the name of the exchange to open it. For most uses, MultiBit performs well as a simplified, fast-loading Bitcoin wallet. This guide covered the essentials every user should be familiar with: Nevertheless, MultiBit remains a popular, simple wallet that should be considered.
Installation Download the installer for your operating system from the downloads page. Installation on Windows Double click on the MultiBit download. The installer will guide you through the rest of the installation. Installation on Mac Double click on the MultiBit download.
Installation on Ubuntu Linux If downloading MultiBit from a browser, be sure to save the installer rather than trying to open it with a package manager.
Receive a Payment To send you funds, a payer requires your Bitcoin address. Sweep a Paper Wallet Paper wallets are sometimes multibit bitcoin address space as gifts from another Bitcoin user. The sweep procedure will consist of these steps: An example file might look like this:
We recommend that you read the try MultiBit article if you haven't already. One of the problems with random private keys is that they cannot be easily regenerated. It is for this reason that we, the MultiBit developers, have decided against direct import of a MultiBit Classic wallet. To illustrate this, consider the following example.
Alice imports a collection of random private keys in addition to her wallet words into a combined wallet. Time passes and one day Alice has her computer stolen along with her backups. Fortunately she has her wallet words and so all the bitcoins associated with it can be recovered.
However, those bitcoins that remained with the random private keys are only protected by backups which have been stolen as well so they cannot be recovered. In the remainder of the article we discuss how to safely upgrade from MultiBit Classic to MultiBit and still retain control over old private keys. If you have a large amount stored in bitcoin typically over USD worth then you should seriously consider purchasing a KeepKey device.
This will provide the best possible multibit bitcoin address space for your bitcoins while still enabling you to use them without undue hassle. You may decide that you want to take this opportunity to split your bitcoin up into smaller multibit bitcoin address space and spread them across multiple wallets, each with its own set of wallet words. If you choose to do this then we'd suggest the following approach:. To ensure that your funds are transferred safely do the multibit bitcoin address space.
Even though all funds have been spent to MultiBit receiving addresses there is still the chance that someone could send you bitcoins using the multibit bitcoin address space address. To ensure that you can always access these funds it is best to maintain a copy of the private keys somewhere safe. There are several approaches to this:.
Overall, you should keep a backup copy of the most recent MultiBit Classic installer somewhere safe in case you need it in the future. Data has a tendency to become lost or corrupted over time so having multiple alternative methods to access the private keys ensures that you have the best possible chance of recovering funds sent to an older address.
Spending is the safest way One of the problems with random private keys is that they cannot be easily regenerated. Step 1 - Preparation If you have a large amount stored in bitcoin typically over USD worth then you should seriously consider purchasing a KeepKey device. If you choose to do this then we'd suggest the following approach: Create a wallet using MultiBit choosing the KeepKey option if you have one and fill in the card using a pen Unlock your wallet in MultiBit using your password and select "Request bitcoin" Copy the offered receiving address or at least the first 8 letters so you can identify them multibit bitcoin address space to your card At this point you have a MultiBit receiving address and MultiBit Classic is ready to spend.
To ensure that your funds are transferred safely do the following: Spend a small amount under 1 USD worth to the receiving address Observe the receipt of the funds multibit bitcoin address space MultiBit - this should be almost immediate Spend the rest of the funds you want to allocate to that wallet - you might want to split the funds over several addresses Step multibit bitcoin address space - Preserve the MultiBit Classic private keys Even though all funds have been spent to MultiBit receiving addresses there is still the chance that someone could send you bitcoins using the old address.
There are several approaches to this: Related articles Here are some related articles: Restore wallet Restore password.